The Privatization Origins of Political Corporations: Evidence from the Pinochet Regime

Felipe Gonzalez, Francisco Manuel Munoz Martinez, Francisco Urzua

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Abstract

We show how the sale of state owned firms in dictatorships may lead to the creation of political corporations operating in democracies. Using several novel datasets, we characterize the privatizations of the Pinochet regime in Chile using a data driven algorithm, confirming that some state owned firms were sold underpriced to politically connected individuals
Original languageEnglish (US)
JournalJournal of Economic History
StateE-pub ahead of print - Feb 5 2020

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